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India reverses decision to privatise small, ageing oil and gas fields

By:  
Creamer Media Correspondent
 
LEGISLATIVE ENVIRONMENT
Reversing its earlier decision to privatise small, ageing or underperforming oil and gas fields held by national exploration and production (E&P) companies, the Indian government has now directed companies to submit time-bound action plans to boost production from these assets. Earlier this year, the Indian government approved the privatisation of 11 small oil and gas fields held by domestic E&P majors, including ONGC and Oil India Limited (OIL), and identified 44 other similar fields wherein it had directed the E&P companies to rope in local or global companies as technology partners to enhance production.
 
 
 
 
 

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